Singapore May bank lending up 1.2% from April

TOTAL bank lending in Singapore rose 1.2 per cent last month from April, central bank data showed on Friday.

Loans and advances by domestic banking units in the city-state amounted to $528.8 billion last month, up from $522.3 billion in April. From a year earlier, May bank lending rose 18.8 per cent.

Loans and advances in Asian currency units (ACU) rose to $431.7 billion last month from $417.8 billion in April. The ACU market refers to loans denominated in currencies other than the Singapore dollar.